MARKDOWN 326
Untitled By wqyu on 29th January 2024 05:10:50 PM

The first image doesn’t look all that nice however, it looks acceptable as far as being safe. Without seeing the actual listing and the contract that you signed, it’s hard to say what’s your options are truly.

AS IS: When you purchase a property that is being sold “as-is”, it’s basically saying buyer beware, the seller(s) are under zero obligation to fix anything that you find to be wrong. You either accepted or you keep looking. If you find something to be wrong, you may request that the sellers fix it however, the seller is under zero obligation. A seller may be required by law to fix or replace something to bring it up to coats and compliance.

CONTRACT: When you purchase a property as you complete the paperwork that is necessary in order to make the property officially yours, a contract will be drawn up and it is important for you to read the contract carefully and understand what you are agreeing to and what the sellers are required to do and what you are required to do as well. In the contract, you will have an option to either have a home inspection or waive it.

Generally speaking, if you are getting a mortgage from a bank or lender, they will require the home to have an inspection depending on what is found during the home inspection, they may not approve you, because it may be too high of a risk some they may approve, and depending on what type of items are found, you may have the option to except the items found and continue with the purchase or require the sellers fix or replace what is found.

If you choose not to have a home inspection, then you’re taking a risk as if you discover anything later on, you cannot hold the sellers liable for anything unless the sellers lie about something that you specifically asked. For example, if you ask, the sellers has the basement ever flooded? If the sellers reply, and say no, the basement has never flooded but three years prior to them selling the house the basement infected flood. It had 3 feet of water this could be a reason to back out of the contract or sue them for being dishonest.

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